In-Brief

Puerto Rico CofC to measure COVID-19 effects on business sector

In an effort to learn how the COVID-19 crisis affected its membership, the Puerto Rico Chamber of Commerce and Inteligencia Económica have launched an initiative to measure the effects of the economic crisis created by the pandemic and the government-mandated curfew.

Several economists have estimated the effect of the pandemic on the Puerto Rican economy at $10 billion. It is also estimated that the economy could experience a contraction of -8% in Real Gross Product in 2020.

“Recognizing the challenges and the need to know how the COVID-19 pandemic has affected the economy, the Puerto Rico Chamber of Commerce has developed an alliance with Inteligencia Económica Inc. to conduct a series of surveys aimed at measuring the effects of the current crisis and the recovery process,” said CofC President José E. Ledesma.

The survey includes questions aimed at finding out how COVID-19 affected the level of sales, payroll, operational stability, if businesses are prepared to open, and whether merchants have received aid, among other issues.

The results of the survey will be presented in digital format using business intelligence software known as Microsoft Power BI, to which CofC directors will have access. The research firm will provide indicators and analysis that members can use to base their business strategies.

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This story was written by our staff based on a press release.

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